The orchestra Wednesday announced that it had secured nearly $28 million in gifts—some of it contingent on future fundraising—enabling it to continuing entertaining patrons for the summer months and upcoming season as it wades through its Chapter 11 proceedings.

“If we weren’t able to achieve this type of support, we would not be able to fund the operations of the orchestra through a bankruptcy,” Lawrence McMichael, the orchestra’s attorney, said in an interview Wednesday.

The donations comprise $11.2 million in outright funding, with the promise of an extra $16.3 if the orchestra raises an additional $17.5 million by the end of the year. The money comes from a variety of donors—the William Penn Foundation, Wyncote Foundation, Gerry Lenfest, the Neubauer Family Foundation, and members of the orchestra’s board, according to a statement.

While orchestra president Allison Vulgamore said in an interview Wednesday that the fresh funds would add to the orchestra’s revenue and allow it to invest in its concerts, the nonprofit isn’t in the clear just yet. It still has to raise another chunk of money in order to exit bankruptcy, said McMichael, of Dilworth Paxson LLP, noting that the gifts announced Wednesday aren’t designed to fund payments the orchestra will make in connection of a plan. He said the company is currently brainstorming possible exit proposals, working on various models that will show how much the orchestra needs while simultaneously putting out feelers for potential donors.

“Once we have our bankruptcy plan on the table, we’re going to have to raise more money to fund the plan,” he said. At the same time, “we’re not going to propose a plan that has payments in it that we don’t think we can achieve.”

The orchestra is hoping to file a plan with the Philadelphia bankruptcy court in September and schedule a confirmation hearing for November so that it can exit bankruptcy by the end of the year. In the meantime, it’s also shopping around for a bankruptcy loan.

“We just think it’s good to have it in place because of the cash-flow issues,” McMichael said.

With lots of work still ahead, McMichael is taking the recent donations as a good sign of things to come.

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